Accelerate Digital Transformation with Fen-Xcelerate by

Editorial & Advertiser disclosure

Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Fen-Xcelerate delivers rapid, end-to-end, digital account opening and frictionless customer journeys in 6-12 weeks

Fenergo, the leading provider of digital transformation and client lifecycle management (CLM) technology, today announces the launch of Fen-Xcelerate, a lower cost, cloud-based version of Fenergo’s CLM solution, tailored specifically to mid-tier and boutique commercial, business and retail banks seeking to accelerate digital transformation.

The cloud-based solution, powered by Amazon Web Services (AWS), delivers frictionless, end-to-end customer journeys and client lifecycle management on a single platform.

Fen-Xcelerate’s unique ecosystem is comprised of out-of-the-box, best-of-breed integrations with partners including Salesforce, Refinitiv’s World-Check One, RDC, and DocuSign. The solution also supports integration with transaction monitoring services, Fenergo’s own customer-facing portal and core banking systems, amongst others.

Many mid-tier commercial, business and retail banks lack the technology required to offer digital services and open accounts remotely, while being able to meet regulatory obligations and detect financial crime. Validated by the industry, Fen-Xcelerate can be quickly deployed to digitalize account opening while delivering a seamless customer experience and regulatory compliance across 100+ jurisdictions.

James Follette, Global Head of Commercial, Business & Retail Banking, Fenergo, said: “With Fen-Xcelerate, mid-tier and boutique banks can benefit from Fenergo’s deep financial services heritage and best-in-class customer relationship management (CRM), data, screening and ID&V integrations in one solution. By leveraging Fen-Xcelerate the goal posts for digitalization within these banks could move from 18 months to just weeks.”

Adam Kupperman, Global Head of Partnerships, RDC, said: “The ability for such banks to incorporate market leading risk screening, transaction monitoring, ID&V and information solutions is a challenge, as most do not desire to integrate standalone solutions, plug them independently into their technology stack and try to make the whole ecosystem operate seamlessly together. The beauty of Fen-Xcelerate is that Fenergo provides customers with a seamlessly integrated platform for Know Your Customer (KYC) and Anti-Money Laundering (AML) processes, including RDC’s best-in-class customer and third-party risk screening capabilities.”

Fen-Xcelerate is pre-configured to greatly reduce implementation costs and deliver the following benefits:

Rapid deployment with limited configuration in 6-12 weeks
Faster digital account opening and customer journey management
Improved operational efficiencies and frictionless customer journeys
Streamlined AML, KYC, Counter Terrorist Financing (CTF) compliance

Ability to manage risk by exception for straight through processing, serving customers faster
Over 300% ROI in three years[1]
Access to Fenergo’s community of global banks and regulators

Key features are as follows:

Fully managed cloud service in partnership with AWS
One consolidated solution for digital transformation

Industry-validated rules engine covering regulations in 100+ jurisdictions
Centralized data and document management
Option to add additional integration modules, such as transaction monitoring
Automated KYC, AML, CTF compliance

Fenergo has been recently certified as an AWS Financial Services Competency Partner. For more information on Fenergo’s partner ecosystem which includes IBM, Salesforce, Accenture, PWC, Cap Gemini, DXC Technology and Luxoft, amongst others, click here.